Guyana’s President Mohamed Irfaan Ali wraps up China trip with pledge to expand cooperation
- The two countries pledged to explore closer cooperation in sectors such as energy and agriculture and deepen cultural and educational cooperation
- Trade between China and the emerging oil producer has been expanding rapidly, growing sevenfold between 2018 and 2022
According to a statement released by Beijing on Monday, the two countries reaffirmed their commitment to “further strengthening bilateral relations and expanding cooperation in various fields”.
“The two sides recognise the important value of trade and investment for deepening economic cooperation, and are committed to creating a positive business environment and promoting bilateral trade and investment activities,” the statement read.
It said they would also explore cooperation in sectors such as manufacturing and service industries.
Ali expressed gratitude for Beijing’s support for his country’s economic development, including infrastructure, the Chinese statement added. The two sides also agreed to expand cultural and educational cooperation.
In September Guyana signed contracts with the Chinese pharmaceutical giant Sinopharm International to build six new regional hospitals in various parts of the country. Beijing has also helped the South American nation build roads, hotels and airports.
China’s most notable venture in Guyana remains the Arthur Chung Conference Centre, a convention and exhibition venue named after the country’s first president of Chinese descent. It first opened in 2006 and underwent renovations a decade later.
Between 2018 and 2022, trade between Guyana and China increased seven-fold from US$265 million to nearly US$1.9 billion, making Guyana China’s largest trading partner among Caribbean countries.
The volume of traded goods also increased by 213 per cent over the five-year period, with an average annual growth rate of over 42.5 per cent.
The South American country has a population of around 800,000 people but is the world’s fastest growing oil producer after discovering its first reserves in 2015.
The Chinese statement also referred to a memorandum of understanding the two countries signed in 2018, while Georgetown restated its willingness to sign up for the Belt and Road Initiative, Xi’s signature transcontinental infrastructure plan.
On Friday Xi described the two countries as “good friends who trust and count on each other” and encouraged the two to “share opportunities, meet challenges, seek cooperation and advance development together”.
Ali told Xi that Guyana “highly values China’s international influence” and “regards China as a highly reliable cooperative partner”. He also said the country is ready to maintain close communication and cooperation with China.
